Arkansas Real Estate Exam Study Questions and Answers

A.A.I.D. - Steps of Advertising This acronym describes the process of grabbing attention through advertising. Attention - ad must grab people's attention Action - ad must inspire action Interest - ad must lead to greater interest beyond initial attention Desire - ad must appeal to the audience's needs and wants A.C.O.L.D - Duties of a Fiduciary Relationship This acronym describes the relationship between a real estate agent and a client. Accountable - agent must account for all funds Care & Skill - agent must use skills to the best of their ability Obedience - agent must obey legal orders by the client Loyalty - agent owes loyalty to the client's wishes above their own Disclose All Information - agent must disclose information that benefits the client C.H.A.O - Adverse Possession This acronym describes claiming a legal title to the land without paying for it. Continuous Use - regular, uninterrupted use Hostile - use is in conflict with the true owner Actual & Exclusive - must not occupy land with the true owner Open & Notorious - occupation of the land must be in public view C.L.O.C - Valid Contract This acronym describes the legality of a contract. Competent - person has the legal capacity to contract Legal Use - contract must be for a lawful purpose